8:36 EST: Three hours and six minutes later (very short), The King’s Speech wins. I will now not think of Oscar for six months, and party crash all over Hollywood. Good night, folks (and, seriously… that sucked).

8:34 EST: “King’s Speech” monologue speaks over montage of all the nominees. Overkill.

8:34 EST: Final award of the night being presented by Mr. Spielberg to, who are we kidding, “The King’s Speech.”

7:04 PST: Best original song montage with random people discussing what their favourite is (it’s most painful).. Huge hisses for “My Heart Will Go On” here at the Egyptian, and bizarre cameo from Barack Obama.

6:06 PST: Now best animated feature…. “Toy Story 3” has this in the bag.

6:04 PST: The Lost Thing wins best animated short (In a bit of a surprise)… The crowd from Ouat Media (who are distributing the film) are sitting behind me at the Egyptian and are reasonably going nuts. Congrats!

6:03 PST: Timberlake: “I’m Banksy.” Write that yourself, Justin?

6:02 PST: Mila Kunis and Justin Timberlake are the sexiest pair of presenters we’ll see tonight.

6:00 PST: Melissa Leo says “fuck,” has something close to a nervous breakdown, and gives us one of the weirdest and most awkward Oscar speeches of all time (“thank you, Academy of Motion Picture Sciences!”.

5:57 PST: Melissa Leo! And Kirk Douglas is making things so awkward by being very dirty old man.

5:40 PST: “I just saw Marky Mark!” James Franco’s grandma has offiicially stolen the monologue from her grandson and Hathaway (who aren’t doing so well…).

5:38 PST: I’ve seen better fake montages at the MTV Movie Awards… even if Franco in ballet leotard was well worth the mediocrity.

5:35 PST: MTV Movie Awards style, James Franco and Anne Hathaway are being inserted into scenes from all the nominees (with some help from Alec Baldwin and Morgan Freeman). Hathaway as Hailee Steinfeld is killing at the Egyptian.

5:31 PST: Trent Reznor and Atticus Ross’s “In The Hall of the Mountain King” opens the Oscars, scoring a montage of best picture nominees.

5:25 PST: Five minutes to go… Ready?

4:30 PST: An hour until the show starts… follow the whole @indiewire team on Twitter: @theknife, @peterknegt, @erickohn and @akstanwyck for more updates through the night.

4:00 PST: The indieWIRE team is setting up shop for hours (and hours) of Oscar coverage. Dana Harris, Peter Knegt & Eric Kohn will be live-blogging from the viewing party at Hollywood’s Egyptian Theater, Brian Brooks will be watching from a industry-laden hotel viewing party in West Hollywood, and Bryce Renninger will be tweeting from New York City. Also check out coverage from the rest of the indieWIRE family: Anne Thompson at Thompson on Hollywood and the crew at The Playlist. Happy Oscar night, everyone!